Tesco illegal shares rip off?

Eye2021

I was hoping for a better standard of debate on this forum i must admit

eskbanker

Eye2021 said:

I was hoping for a better standard of debate on this forum i must admit

I'd be hoping that people who accept the risk of investing in shares would have some sort of idea of what this entails, especially not being naive enough to think that they're guaranteed to win (or even just not to lose) out of any corporate actions....

HansOndabush

Eye2021 said:

I was hoping for a better standard of debate on this forum i must admit

What is there to debate? It's a big dividend plus a small consolidation of shares; not much of a debate in there.

kinger101

HansOndabush said:

Eye2021 said:

I was hoping for a better standard of debate on this forum i must admit

What is there to debate? It's a big dividend plus a small consolidation of shares; not much of a debate in there.

We can debate whether it was a debate, and if so, whether the standard of debate should have been higher.

wackojackouk

jimjames said:

wackojackouk said:

I thought we might actually make some money on this but it looks like costing me money. Not sure it's a rip off but doesn't seem very fair.

Any tips? - Could I transfer some shares into my partners name who is a non-taxpayer before the 12th February to avoid such a hit?

I don't know what the effective/ex dividend date is for this but you might want to check. I suspect it may have already passed.
But it really highlights the benefit of holding shares inside an ISA as no tax is payable inside the wrapper. If they're not already in an ISA it might be worth doing that especially if you can do so before the ex div date

By the way this activity will have absolutely no effect on our household and we will not be ripped off so the OP is very wrong with their claim

Thanks buddy, I think you're correct in that they should really have been inside an ISA wrapper and I haven't done that as had a lot going on. Will probably be best solution going forward.

comment_as...

Yep total rip off. The board do it solely because it works out best for their bonuses. That's common will all companies unfortunately, just think of it as part of the wage bill

Croeso69

kinger101 said:

HansOndabush said:

Eye2021 said:

I was hoping for a better standard of debate on this forum i must admit

What is there to debate? It's a big dividend plus a small consolidation of shares; not much of a debate in there.

We can debate whether it was a debate, and if so, whether the standard of debate should have been higher.

Indeed. Couldnt be much lower.

comment_as... said:

Yep total rip off. The board do it solely because it works out best for their bonuses. That's common will all companies unfortunately, just think of it as part of the wage bill

As i just said ...

[Deleted User]

Hi,

to all the moaners here, whether hold shares or not, stop shopping at Tesco, profits fall, share price drops, dividend suspended.

Will that make you happy?

comment_as...

[Deleted User] said:

Hi,

to all the moaners here, whether hold shares or not, stop shopping at Tesco, profits fall, share price drops, dividend suspended.

Will that make you happy?

I don't think anyone's suggesting it would. Suppose you owned an off-licence and one of your employees stole from the till. You'd moan about it without wishing that you'd lost all your customers too...

HHarry

According to the e-mail I received from Hargreaves Lansdown you can vote against the proposal, so do that if it causes you so much grief.

If you’ve got nearly £500k worth of Tesco shares, a £600 tax hit is nothing - Sure it’s annoying to realise a loss not of your making, but realistically a portfolio that size is going to swing by more than £600 in a normal days trading.

Also it can’t be a rip-off as Tesco haven’t implemented that tax, nor have any control over it.  If it causes you a problem have a chat with the Chancellor, he’s the one with the legal authority to amend it.